FDIC Open-Bank Assistance
American Heritage Savings F.A.
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Assistance provided August 28, 1984 · Bloomington, IL · FDIC Cert #31284.
- Assistance date
- August 28, 1984
- Headquarters
- Bloomington, IL
- FDIC Certificate
- 31284
- Total assets at the time
- $277.0M
- Total deposits at the time
- $256.4M
- Estimated loss to the insurance fund
- $42.9M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Household Bank FSB
Context
On August 28, 1984, the FDIC provided open-bank assistance to American Heritage Savings F.A., headquartered in Bloomington, IL. The institution continued operating. At the time it held approximately $277.0M in assets and $256.4M in deposits. The FDIC record names Household Bank FSB as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $42.9M.
The FDIC record for 1984 holds 83 failures and 23 open-bank assistance transactions. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did the FDIC provide assistance to American Heritage Savings F.A.?
American Heritage Savings F.A. received FDIC open-bank assistance on August 28, 1984; it did not fail.
How big was American Heritage Savings F.A. at the time of assistance?
American Heritage Savings F.A. had approximately $277.0M in total assets and $256.4M in deposits at the time of assistance.
Bank failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 20, 1984 | The Farmers State Bank | $14.6M |
| Dec 18, 1984 | Uehling State Bank | $4.2M |
| Dec 11, 1984 | University Bank of Wichita | $4.7M |
| Dec 7, 1984 | San Marino S&LA | $856.8M |
| Dec 7, 1984 | Farmers State BK of Holyoke | $3.9M |
| Dec 4, 1984 | Golden Spike State Bank | $7.8M |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
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